LAKE SUCCESS, N.Y., July 8, 2013 /PRNewswire/ -- Astoria Federal Savings, Long Island's fourth largest bank by deposit market share and the second largest community bank headquartered in New York, today announced that it has hired two veteran business bankers, James Drum and Robert McKenna, to the bank's growing Business Banking Group. As relationship managers and senior vice presidents, both McKenna and Drum are responsible for adding to the group's business portfolio in the Long Island area, while working closely with area businesses to optimize their operations. Both Drum and McKenna will report directly to William Ayers, who serves as the director of relationship management for the group on Long Island.
Drum has a high level of local expertise, which he has shown in his work with Long Island businesses at institutions such as Commerce Bank. In addition to his extensive work with local businesses, Drum has also had the opportunity to apply his skills on an international level while working at the National Bank of Canada. There, he was responsible for building and managing banking relationships with major domestic and international financial institutions, and creating new opportunities for the bank's U.S. network. Prior to working with Astoria, Drum served as a vice president of business and professional banking at M&T Bank.
McKenna also has a strong focus on business banking, bringing more than 25 years of banking experience and an extensive background in building banking relationships with New York-area businesses. Most recently, he served as vice president and senior relationship manager at TD Bank, where he focused on developing new banking opportunities in the Long Island market. Prior to TD Bank, McKenna was part of a team that developed a regional lending business for Commerce Bank on Long Island. As a senior vice president at Astoria, McKenna looks to use his background in asset-based financing, community lending and middle market lending to develop and manage new business banking clients for the bank.
"We are excited to bring Bob and Jim on board. They will each use their extensive knowledge of the Long Island market and communities to further provide our business banking clients with customized banking solutions for their business and credit needs," said Stephen Sipola, executive vice president and managing director of Astoria's Business Banking Group. "We understand how important expert local consultation and quick decisions are for these businesses, and we operate locally so we can move swiftly, and help to enhance their business operations."
Drum and McKenna join Astoria's team of relationship managers, who serve as a knowledgeable resource for local business owners. Since 2011, Astoria has expanded its Business Banking Group from eight to more than 30 people, hiring relationship managers and business banking executives with an average of more than 20 years of business banking experience on Long Island and New York City. Astoria's strategic shift in focus toward business banking has resulted in a double-digit increase in core deposits for the second straight year.
About Astoria Federal Savings
Astoria Financial Corporation (NYSE: AF), with assets of $16.2 billion, is the holding company for Astoria Federal Savings and Loan Association. Established in 1888, Astoria Federal, with deposits in New York totaling $10.4 billion, is the largest thrift depository in New York and embraces its philosophy of "Putting people first" by providing the customers and local communities it serves with quality financial products and services through 85 convenient banking office locations and multiple delivery channels, including its enhanced website, www.astoriafederal.com. Astoria Federal commands the fourth largest deposit market share in the attractive Long Island market, which includes Brooklyn, Queens, Nassau, and Suffolk counties with a population exceeding that of 38 individual states. Astoria Federal originates residential mortgage loans through its banking and loan production offices in New York, a broker network in four states, primarily along the East Coast, and through correspondent relationships covering nine states and the District of Columbia. Astoria Federal also originates multi-family and commercial real estate loans, primarily on rent controlled and rent stabilized apartment buildings, located in New York City and the metropolitan area.
SOURCE Astoria Federal Savings